French luxury Multinational Corporation Kering reports a 2 per cent rise in revenue accounting to € 10.1 billion. The financial report includes the numbers from Gucci, adding € 5.1 billion to the revenue, YSL accounting for € 1.6 billion, Bottega Veneta reporting € 833 million, and other houses adding € 1.9 billion to the final number.
The luxury group stands at a net income of € 1.8 billion for the first half of the 2023 revenue report. Kering also announced the promotion of Armelle Poulou to the role of Chief Financial Officer, although her reporting will stick to Jean-Marc Duplaix, Deputy CEO, in charge of operations and finance.
François-Henri Pinault, Chairman and CEO of Kering commented, “While engaging in critical forward-looking initiatives, we maintained a high level of profitability. We also took some decisive steps to expand our footprint in the luxury universe, notably with the acquisition of the famed Creed fragrance house to accelerate the liftoff of Kering Beauté.”
He further continued, “Together with the major organisational changes we announced last week to enhance stewardship of our Houses, as well as the many projects we have already launched over the past few months, the developments of the first half strengthen my confidence in Kering’s future prospects.”
